The Queensland Department of Natural Resources and Mines (NR&M) is currently running
the Vegetation Incentives Program (VIP), which pays landholders to protect and manage nonremnant
vegetation on their properties. The program is using an auction mechanism to
allocate the funding. Observing the VIP gives insight into participant behaviour and the
impact of the policy formation process on auctions for conservation contracts. The program
is particularly interesting as this is the first time this mechanism is being used in Australia to
distribute funds on a state-wide level. A preliminary analysis has been undertaken and key
lessons have been identified.